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US GDP Might Increase By This Much In Third Quarter, Here Are The Major Macro Issues For Thursday – Microsoft (NASDAQ:MSFT), Amazon.com (NASDAQ:AMZN)

ByLisa Levin

Oct 27, 2022
US GDP Might Increase By This Much In Third Quarter, Here Are The Major Macro Issues For Thursday - Microsoft (NASDAQ:MSFT), Amazon.com (NASDAQ:AMZN)

U.S. stocks closed mostly lower on Wednesday with the Nasdaq Composite dropping more than 200 points amid gains in Microsoft Corporation MSFT and Amazon.com, Inc. AMZN shares.

Let’s have a look at the major economic events scheduled for today.

  • Data on durable goods orders for September will be released at 8:30 a.m. ET. Analysts expect durable goods orders increasing 0.6% in September following August’s 0.2% drop.
  • Gross Domestic Product report for the third quarter will be released at 8:30 a.m. ET. Analysts expect Q3 GDP increasing to 2.3% annualized growth compared to contraction of 0.6% in the second quarter.
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims are expected to come in at 223,000 for the October 22 week versus 214,000 in the previous week.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
  • The Kansas City Fed manufacturing index for October will be released at 11:00 a.m. ET. Analysts expect the Kansas City manufacturing index rising slightly to 3 in October from 1 in September.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
  • The Treasury will auction 7-year notes at 1:00 p.m. ET.

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Image and article originally from www.benzinga.com. Read the original article here.